"Its our mission to strive for synergy between technology, systems and human resources, to produce products and services that meet the quality, performance and price aspirations of our customers. While doing so, we maintain the highest standards of ethics and societal responsibilities. "
"We, at the Hero Group are continuously striving for synergy between technology, systems and human resources to provide products and services that meet the quality, performance, and price aspirations of the customers. While doing so, we maintain the highest standards of ethics and societal responsibilities, constantly innovate products and processes, and develop teams that keep the momentum going to take the group to excellence in everything we do."
Current Ratio is the relationship between the current assets and current liabilities
Current Ratios- Current Assets/
(Table 1.1) Interpretation - From the above table it is clear that the company has been investing more in the current assets than the current liabilities. An insight in to the balance sheet of the company shows that major portion of current assets consists of sundry debtors and cash and bank balance. Current Ratio has increased in year 2009 as compared to year 2008 which has further increased as compared to the year 2007. The ratio of year 2009 is near to the thumb rule of 2:1, this indicates that liquidity position is good and company’s commitment to meet its short-term obligation in time. Year 2007 2008 2009 Current Assets 3,514,169,012 4,078,120,805 4,500,174,202 Current Liabilities 2,174,339,220 2,117,280,044 1,897,907,454 Current Ratio 1.61 1.92 2.37
It is a more rigorous test of liquidity then current ratio. The term ‘liquidity’ refers to the ability of a firm to pay its short-term obligations as and when they become due. It is between the liquid assets and current liabilities.
Liquid Ratio- Liquid Assets
(Table-1.2) Interpretation- The quick ratio of the company is exceeding the rule of thumb of 1:1, indicating that the company is highly liquid so as to fulfils current liabilities well in time. Company’s current assets involved large amount of debtors in it. Year 2007 2008 2009 Liquid Assets 2,078,507,978 2,971,184,464 3,722,592,925 Current Liabilities 2,174,339,220 2,117,280,044 1,897,907,454 Liquid Ratio 1.24 1.40 1.96
Cash/ Absolute Liquid Ratio Cash ratio is the relationship between the absolute liquid assets and current liabilities. Debtors and bills receivables are more liquid than inventories. But cash ratio involves only absolute liquid assets. Absolute liquid assets involve only cash and short-term securities.
It shows the relationship between external and internal equities & it is calculated to measure the claim of outsiders and owners against company’s assets.
The outsider’s funds include all debts / liabilities to outsiders, whether in form of debentures, bonds, mortgage or bills. The shareholders funds include equity + preference share capital included capital reserve, revenue reserve and reserves representing accumulated profits and surpluses.
Debt Equity Ratio = Long term Debts / Shareholders Funds * 100
(Table-1.4) Interpretation- There has been a slight decrease in this ratio due to the fact that now the company is relying more on own funds then on outsider’s funds. As such ratio has been improved and that amount is blocked in inventories. Years 2007 2008 2009 Long Term Debts 1,732,223,697 2,538,217,041 2,415,142,595 Shareholder’s Funds 5,364,231,022 5,992,951,800 6,526,360,604 Debt Equity Ratio 32.29 42.35 37.006
The "United Nations System of Organizations" covers a wide variety of organizational units (centres, agencies, organizations, commissions, pro-grammes, etc.) with different institutional and functional structures
The estimated value of business opportunities emanating from the United Nations system and the Development Banks exceeds US$30 billion annually
UN Flag and Emblem United Nations emblem was approved on 7 December 1946 Symbolism Olive branches symbolize peace
Secretariat staffing as of 30 2009 (Secretary-General's report "Composition of the Secretariat" : about 40,000
Budget for 2008-2009: USD 4.171 billion (peacekeeping operations not included)
Official languages: Arabic, Chinese, English, French, Russian, Spanish. UN Observances - The first day approved by the UN General Assembly was United Nations Day, 24 October (by resolution 168 (II) of 31 October 1947).
Asks the Supplier to enter his To enter subsidiaries, associates and/or overseas reps. And To enter countries with international offices/representation
Asks the Supplier to enter Details of quality assurance certifications to enter with Certifications
Asks the Supplier to provide information regarding exports, contracts and disputes with the UN . The year of export, plus the country exported to, are entered by clicking on “Add” . Year of contract award, UN agency and volume are input. UNCCS codes for the goods/services provided are entered
Asks the Supplier to enter details of memberships to trade/professional Organizations . One international and one national membership can be included
Due to serious time constraints, the study was limited to the suppliers of UN in India only.
Another major limitation, which affected the study, was the problem of sample size which is limited only to 10
It was hard for me to find links of Suppliers supplying to UN and my study was fully dependent upon the links of my major Advisor In Hero Exports
Balance Sheet of Hero Exports was not provided so ratios were calculated on the Balance Sheet of Hero Cycles Ltd.
The report is based on the information provided by Suppliers as per the problems they have faced in the past and no company wants to reveal their problems to the fullest extent, so it is possible that discrepancy might have occurred owing to the quality of information provided
Interested in doing business with UN because N =10 No. of resp Table 5.2 UN pays me in time 3 UN gives me handsome margins 3 You feel the quality of the goods and services you are producing 1 All the above 3 None of the above 0
UN releases payment N =10 No. of resp %age Table 5.5 Against receipt of material 1 10 Against receipt of documents 4 40 After 30-45 days of receipt of acceptance 5 50 After 50-60 days of receipt of acceptance 0 0
UN ever returned your goods on not matching the quality standards. N =10 No. of resp Table 5.6 Yes 2 No 8
Sourcing of exact material is generally required (in terms of specification) while Exporting to UN N =10 No. of resp % age Table 5.8 With Exact Specification 10 100 Without Exact Specification 0 0 A minute Difference is allowed 0 0 Large difference is allowed 0 0
Sourcing of exact material is generally required (in terms of Quantity) while Exporting to UN N =10 No. of resp % age Table 5.9 With Exact Specification 7 70 Without Exact Specification 0 0 A minute Difference is allowed 3 30 Large difference is allowed 0 0
The material supplied to the UN does not match the Exact Specification of UN N =10 Chart 5.6
UN terms for supply of goods and services N =10 No. of resp % age Table 5.10 Ex-Works 0 0 FOB 0 0 CIF 7 70 DDU 3 30
Materials does not reach the site specified by UN at exact time at per stated in the Terms and conditions of the Contract N =10 Table 5.11 No. of resp Materials are rejected. 2 UN accepts the materials but only when it reaches the ports and that too on special permission 6 UN accepts the material if the material is in the nearby Country or ship and is going to reach the port in a while 0 UN accepts the material if it has reached the ports only 2
UN requires the Inspection of materials N =10 No. of resp % age Table 5.12 Before the materials are supplied 0 0 After the materials are supplied 3 30 Both before and after the materials are supplied 7 70 No inspection is required. 0 0
The contractor is responsible even he is bankrupt to bear cost of all legal proceedings N =10 No. of resp % age Table 5.13 Yes 10 100 No 0 0
Companies dealing with UN are exempted from all direct taxes N =10 No. of resp % age Table 5.14 Yes 10 100 No 0 0
All parameters whether it is payment terms or feeling assured about the quality of goods and services being produced or getting handsome margins all contribute to the suppliers for doing business with UN
Most of the suppliers agree that UN is a better place to serve off.
Terms and conditions laid by UN to do business with it are Strict/tuff
Payment terms of UN are very clear as it pays its suppliers either Against receipt of documents or releases payment After 30-45 days of receipt of acceptance
While one is dealing with UN one has to be very particular about the Quality of goods they are supplying
If material supplied to the UN does not match the Exact Specification of UN than either the order is cancelled or new order has to e made all over again and that too on the expense of the supplier solely
The incoterms for supply of goods to UN are CIF and DDU
UN accepts the materials on special permission Only and only on genuine reasons otherwise the Materials are rejected.
Both pre and post inspection should be done to avoid any discrepancies
Even the supplier is bankrupt he to bear cost of all legal proceedings and is liable to compensate for all costs if UN falls in any legal suit
No taxes have to be paid for all business done with UN
It will any how Prove that the company is supplying Quality Products and Services as without advertising also when the description appears in the balance sheet of the Company. It means that Company will get good business in the future also.